Allspring Global Investments Holdings LLC Acquires 8,077 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 70.6% in the third quarter, Holdings Channel.com reports. The fund owned 19,515 shares of the company’s stock after purchasing an additional 8,077 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Elanco Animal Health were worth $287,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ELAN. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Elanco Animal Health by 337.7% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,764 shares of the company’s stock worth $26,000 after acquiring an additional 1,361 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of Elanco Animal Health during the 3rd quarter worth about $29,000. ORG Partners LLC acquired a new stake in shares of Elanco Animal Health during the 2nd quarter worth about $31,000. nVerses Capital LLC acquired a new stake in shares of Elanco Animal Health during the 2nd quarter worth about $32,000. Finally, Quarry LP acquired a new stake in shares of Elanco Animal Health during the 2nd quarter worth about $40,000. 97.48% of the stock is owned by institutional investors.

Insider Buying and Selling at Elanco Animal Health

In other Elanco Animal Health news, CEO Jeffrey N. Simmons purchased 100,000 shares of the stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $13.01 per share, for a total transaction of $1,301,000.00. Following the transaction, the chief executive officer now directly owns 145,000 shares in the company, valued at $1,886,450. This represents a 200.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other Elanco Animal Health news, Director Michael J. Harrington purchased 3,500 shares of the stock in a transaction dated Thursday, August 22nd. The stock was bought at an average price of $14.85 per share, for a total transaction of $51,975.00. Following the transaction, the director now directly owns 81,094 shares in the company, valued at $1,204,245.90. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey N. Simmons purchased 100,000 shares of the stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $13.01 per share, with a total value of $1,301,000.00. Following the transaction, the chief executive officer now owns 145,000 shares in the company, valued at $1,886,450. This trade represents a 200.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.57% of the company’s stock.

Elanco Animal Health Trading Down 0.3 %

ELAN opened at $12.60 on Friday. The company has a current ratio of 2.93, a quick ratio of 1.75 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $6.23 billion, a PE ratio of -4.94, a PEG ratio of 1.34 and a beta of 1.41. Elanco Animal Health Incorporated has a 1-year low of $8.75 and a 1-year high of $18.80. The firm has a 50-day moving average price of $14.11 and a two-hundred day moving average price of $14.72.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.06. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Elanco Animal Health had a negative net margin of 27.94% and a positive return on equity of 7.29%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 EPS. As a group, equities analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ELAN has been the subject of a number of recent analyst reports. Barclays dropped their target price on shares of Elanco Animal Health from $22.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Stifel Nicolaus reiterated a “buy” rating and set a $20.00 target price on shares of Elanco Animal Health in a research report on Thursday, September 19th. Finally, Morgan Stanley cut shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $17.00 to $15.00 in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $17.00.

Elanco Animal Health Company Profile

Elanco Animal Health Incorporated, an animal health company, innovates, develops, manufactures, and markets products for pets and farm animals. It offers pet health disease prevention products, such as parasiticide and vaccine products that protect pets from worms, fleas, and ticks under the Seresto, Advantage, Advantix, and Advocate brands; pet health therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications in canines and felines under the Galliprant and Claro brands; vaccines, antibiotics, parasiticides, and other products for use in poultry and aquaculture production, as well as nutritional health products, including enzymes, probiotics, and prebiotics; and a range of vaccines, antibiotics, implants, parasiticides, and other products used in ruminant and swine production under the Rumensin and Baytril brands.